4367 Genoa Rd

New Orleans, LA 70129

$259,900F

3 bd · 2.5 ba · 1,672 sqft · Built 1984 · SingleFamily · Active · 132 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,621/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$755
• HOA: −$0
• Vac / Maint / Mgmt: −$340
• Net cashflow: $-837/mo
• Annual: $-10,045/yr
• Cap rate: 4.40%
• Cash-on-cash: -6.77%
• DSCR: 0.70
• 1% rule: 0.62%
• Cash to close: $72,772

Investor read

• This is a 3-bed/2.5-bath single-family listed at $260k.
• At list price, monthly cash flow is $-837 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (56.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (37.6% below list).
• It's been on market 132 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (56.9% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#3 in LA, #1,383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime C-, employment D.
• Orleans Parish (urban): math 11% / reading 27% proficiency, ranked #69 of 98 in LA (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 139 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $55k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; list at $260k implies a 136% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 132 days. Have you received any prior offers? Is the seller open to a 57% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.